As part of the agreement signed with VTB Capital Asset Management, Nordea Bank will start offering mutual fund units to customers in its offices which act as agents of the above managing company in Moscow, Saint-Petersburg and other cities of Russia. VTB Capital Asset Management is the second managing company whose investment products will be offered by Nordea Bank.

Andrey Maltsev, Deputy Chairman of OJSC Nordea Bank’s Management Board, said: “We keep on developing and improving our line of investment products aimed at preserving and multiplying the capital of private individuals. Selling mutual fund units and cooperating with VTB Capital Asset Management is a logical step on our part for strengthening the Bank’s positions in this sector. We plan to continue the development of our investment banking business based on the experience of Nordea Group gained in Scandinavian and Baltic countries where Nordea Group has been successfully selling such services to private individuals”.

Vladimir Potapov, Global Head of Portfolio Management Business at VTB Capital Asset Management, said: “We are careful about choosing each agent. Our partner must be able to provide necessary information to investors in a quality manner and help them choose an optimal mutual fund or portfolio of mutual funds. Nordea Bank fully meets these requirements. We look forward to a successful, long-term and mutually beneficial cooperation”.

VTB Capital Asset Management is part of VTB Capital, the investment arm of VTB Group. VTB Capital Asset Management was founded in 1996 and since 2006 it has been operating under of the most well-known and reliable Russian brands – VTB. Its core activities are: managing open-ended investment funds; managing the capital of high net worth individuals and financial institutions, including pension funds and insurance companies, as well as the assets of non-profit organizations (endowment funds) and the indemnification funds of self-regulating organizations; managing venture funds; managing private equity and real estate funds. VTB Capital Asset Management is duly licensed to perform all these activities (a portfolio management license № 177-10038-001000 issued by the Russian Federal Financial Markets Service on 20.03.2007, a license № 21-000-1-00059 issued by the Russian Federal Financial Markets Service on 06.03.2002 for managing investment funds, mutual funds and private pension funds). If you have any questions, feel free to contact VTB Capital Asset Management at 8 (800) 700-44-04 (toll-free for calls within Russia).